Corn Futures (ZC1!), H4 Bearish Reversal
Type : Bearish Reversal
Resistance : 782'2
Pivot: 765'0
Support : 730'0
Preferred case: We see the potential for bearish dip from our Pivot level at 765'0 in line 61.8% Fibonacci retracement and 100% Fibonacci projection towards our 1st Support at 730'0 in line with 78.6% Fibonacci projection .
Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 782'2 which is in line with a graphical swing high resistance.
Fundamentals: No Major News.
Resistance : 782'2
Pivot: 765'0
Support : 730'0
Preferred case: We see the potential for bearish dip from our Pivot level at 765'0 in line 61.8% Fibonacci retracement and 100% Fibonacci projection towards our 1st Support at 730'0 in line with 78.6% Fibonacci projection .
Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 782'2 which is in line with a graphical swing high resistance.
Fundamentals: No Major News.
Penafian
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